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Dec 22, 2012
12/12
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WRC
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thanks. >>> for more on what going over the so-called fiscal cliff could mean for you and your family come the new year we want to bring in the "today" show financial editor. a lot of focus has been on the expiring bush era tax cuts. let's talk about the amount of money that comes out of your weekly or monthly paycheck. how will that change? >> reporter: the other thing that is expiring is the payroll tax holiday. that is very likely to go whether or not we get a deal. for americans who earn about $30,000 a year, that's going to mean a cut of $50 a month, $500 over the course of the year in their pay checks. for those who earn closer to $50,000 we're looking at a thousand dollars over the year and if you earn closer to $100,000 it's $2,000 throughout the year. >> let's talk about those expiring tax cuts. if congress doesn't act, how much of a bite is that going to take from the average american? >> well, as the man said in the piece, on average it is going to take about a $3500 bite for the average american. but it is going to take more from upper earners so if you earn more than a mi
thanks. >>> for more on what going over the so-called fiscal cliff could mean for you and your family come the new year we want to bring in the "today" show financial editor. a lot of focus has been on the expiring bush era tax cuts. let's talk about the amount of money that comes out of your weekly or monthly paycheck. how will that change? >> reporter: the other thing that is expiring is the payroll tax holiday. that is very likely to go whether or not we get a deal....
191
191
Dec 22, 2012
12/12
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CSPAN
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with what's going on right now with the fiscal cliff as a democrat i feel that we should just rint off the cliff and we need to start the tax table over, make it more fair for everyone involved. what i mean by that is number one, i feel that the corporate tax is too high. we have to lower it. we have to pull companies back into the country number two, i don't feel that they they left for the corporate rate. they left for the world economy. and it's a lot cheaper to pay somebody 14 cents an hour in china and bring the goods back. so we have to do things like that. and we have to protect be fair with the tax rates, and bring jobs back. number two, on -- when we talk about taxes, the 1%ers, listen, sam walton became a billionaire and when he was making his money it was at the rated of like 90% and he still was able to obtain that type of wealth which i applaud that that's phenomenal. but what we have to do is we have to limit our capital gains to 15% for the first 500,000. and what that will do is make it more fair that we won't have c.e.o.s a year ahead of time saying i don't want to be
with what's going on right now with the fiscal cliff as a democrat i feel that we should just rint off the cliff and we need to start the tax table over, make it more fair for everyone involved. what i mean by that is number one, i feel that the corporate tax is too high. we have to lower it. we have to pull companies back into the country number two, i don't feel that they they left for the corporate rate. they left for the world economy. and it's a lot cheaper to pay somebody 14 cents an hour...
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165
Dec 22, 2012
12/12
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FOXNEWSW
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hurry in for a droid razr m by motorola for $49.99. >> and the fiscal cliff standoff taking a big toll on one of the key drivers of the economy, consumer confidence dropping to a five-month low. but at the same time,' same time, consumer spending was up a quarter of a percent last month according to the commerce department and we're seeing a big jump in personal income. so what does it mean and how do we compare it to the signals and what does it say about the health of our nation's economy. joining us carolyn castlebury, good to see you. what does it hean when we see that the consumer's confidence is dropping and eroding and yet, spending is going up? >> it means that many of us feel bad, but the way we handle that is to shop. we want to spend anyway and actually, this was the indicator that went up in november, .4%, the the holidays are here, people want to forget about a lot of their problems and the one thing that americans are slow to give up on is hope and sometimes when that confidence wanes denial kicks in and one translation might mean jobs. >> kelly: just had a funny picture,
hurry in for a droid razr m by motorola for $49.99. >> and the fiscal cliff standoff taking a big toll on one of the key drivers of the economy, consumer confidence dropping to a five-month low. but at the same time,' same time, consumer spending was up a quarter of a percent last month according to the commerce department and we're seeing a big jump in personal income. so what does it mean and how do we compare it to the signals and what does it say about the health of our nation's...
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191
Dec 22, 2012
12/12
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FOXNEWSW
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the country is teetering as you well know on the edge of a fiscal cliff after a breakdown in talks on reaching a deal. president obama and lawmakers have left town taking a few days off for their christmas health. then it's back to the drawing bord and with budgeted talks in disarray, president obama and speaker john boehner are searching for a way to avoid tumbling over. >> we move forward together or we don't move forward at all. so, as we leave town for a few days to be with our families through the holidays. i hope it gives some perspective. >> we propose plans that democrats used to support but now they won't. i don't want taxes to go up. republicans don't want taxes to go up. but we only run the house, democrats continue to run washington. >> gregg: national correspondent steve centanni joins us live from washington. >> reporter: d.c. may be some shutting down for christmas but the clock hasn't stopped and fiscal cliff is closer than ever. no deal was reached this week to keep taxes from going up. joan boehner pulled plug on the plan "b" and he says it is now up to the president
the country is teetering as you well know on the edge of a fiscal cliff after a breakdown in talks on reaching a deal. president obama and lawmakers have left town taking a few days off for their christmas health. then it's back to the drawing bord and with budgeted talks in disarray, president obama and speaker john boehner are searching for a way to avoid tumbling over. >> we move forward together or we don't move forward at all. so, as we leave town for a few days to be with our...
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744
Dec 22, 2012
12/12
by
FOXNEWSW
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lawmakers need to compromise but he also made clear as of right now when it comes to the fiscal cliff and avoiding it, there is no deal. >> so as we leave town for a few days to be with our families for the holidays, i hope it gives everybody some perspective. everybody can cool off. everybody can drink some eggnog, have some christmas cookies, sing some christmas carols. enjoy company of loved ones. and then i would ask every member of congress while they're back home to think about that. think about the obligations we have to the people who sent us here. think about the hardship that some americans will endure if congress does nothing at all. >> it was just a few minutes after the president left the podium that the white house announced he, along with the first lady and his daughters would fly to hawaii for vacation, but, before he left town, yesterday morning, the top republican in the senate, mitch mcconnell said there is the stalemate. since there is a stalemate. it's the commander and chief's job to figure out how to get that compromise that he just said would benefit everyone.
lawmakers need to compromise but he also made clear as of right now when it comes to the fiscal cliff and avoiding it, there is no deal. >> so as we leave town for a few days to be with our families for the holidays, i hope it gives everybody some perspective. everybody can cool off. everybody can drink some eggnog, have some christmas cookies, sing some christmas carols. enjoy company of loved ones. and then i would ask every member of congress while they're back home to think about...